Hong Kong Disneyland reports record profit, plans more free tickets for helpers
Net profit in 2023-2024 rebounded to HK$838 million from a net loss of HK$356 million in 2022-23, the first profit in a decade
Hong Kong Disneyland Resort posted a record net profit of HK$838 million (US$107.8 million) for last year, according to its managing director, who revealed a string of celebratory events for the theme park’s 20th anniversary and a possible return of free tickets for domestic helpers.
Disneyland managing director Michael Moriarty said on Tuesday the resort’s record profit for the year ending September 30, 2024, was compared with a net loss of HK$356 million in the previous period. The theme park on Lantau Island has returned to profit for the first time in a decade.
“It was an extraordinary year,” Moriarty said. “The performance exceeded our expectations.”
He said the theme park’s efforts to weather years of Covid-19 paid off, but it would still face challenges in the coming year.
He pointed out headwinds would be driven by the macroeconomic outlook in China, a strong Hong Kong dollar and the need for more short to long-haul flights.
“We don’t know what the solutions [to China’s macroeconomy] will be, but we know the central government is working on it, that will have a significant impact on consumer confidence, which has been low for some time,” he said. “If Hong Kong wins, we win.”